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Mobile Mini down 5% post Q1 results

Apr. 20, 2018 12:02 PM ETMobile Mini, Inc. (MINI) StockMINIBy: Akanksha Bakshi, SA News Editor
  • Mobile Mini (MINI -5.3%) reported Q1 revenue growth of 14% Y/Y to $140.7M owing to 21.1% Y/Y rental revenue increase in tank & pump solutions and 13.9% Y/Y increase in rental revenues for storage solutions.
  • Q1 overall operating margin improved by 151 bps to 20.8% and Adj. EBITDA margin improved by 78 bps to 34.5%.
  • Q1 average utilization: storage solutions 70.6% and tank & pump 73.6%, also raised storage solutions rental rates by 3% Y/Y.
  • “Tank & Pump Solutions equipment on rent increased dramatically in the first quarter of 2018 compared to the prior year and we expect this level of utilization to continue into the next quarter with a healthy pipeline. In addition, with pending orders up significantly compared to this time last year, our North American Storage Solutions pipeline continues to be strong. In the U.K. our business remains flat as we continue to monitor the effects of BREXIT on our business. Overall, we expect to see strong year-over-year top line growth and expanded margins for the remainder of 2018”, said Erik Olsson, President and CEO.
  • Previously: Mobile Mini misses by $0.01, beats on revenue (April 20)

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